Royce & Associates LP Trims Stake in Genuine Parts (GPC)

Royce & Associates LP trimmed its position in shares of Genuine Parts (NYSE:GPC) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,500 shares of the specialty retailer’s stock after selling 4,469 shares during the quarter. Royce & Associates LP owned approximately 0.07% of Genuine Parts worth $10,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Genuine Parts by 8.8% in the 2nd quarter. BlackRock Inc. now owns 15,716,092 shares of the specialty retailer’s stock worth $1,457,825,000 after purchasing an additional 1,273,864 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Genuine Parts by 44.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,758,715 shares of the specialty retailer’s stock worth $361,034,000 after buying an additional 1,160,200 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Genuine Parts by 43.7% during the third quarter. Wells Fargo & Company MN now owns 3,027,033 shares of the specialty retailer’s stock worth $289,536,000 after buying an additional 921,258 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Genuine Parts by 13.9% during the second quarter. JPMorgan Chase & Co. now owns 7,150,904 shares of the specialty retailer’s stock worth $663,318,000 after buying an additional 874,466 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Genuine Parts by 2,560.0% during the second quarter. Janus Henderson Group PLC now owns 532,525 shares of the specialty retailer’s stock worth $49,397,000 after buying an additional 512,505 shares during the last quarter. Institutional investors and hedge funds own 76.03% of the company’s stock.

Genuine Parts (GPC) traded up $0.53 during trading on Thursday, reaching $93.26. The company’s stock had a trading volume of 706,800 shares, compared to its average volume of 853,334. The company has a current ratio of 1.32, a quick ratio of 0.62 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $13,595.47, a price-to-earnings ratio of 20.38, a P/E/G ratio of 3.54 and a beta of 1.12. Genuine Parts has a one year low of $79.86 and a one year high of $100.90.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, October 19th. The specialty retailer reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $4.10 billion. Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. Genuine Parts’s revenue for the quarter was down 72.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.24 EPS. equities analysts forecast that Genuine Parts will post 4.58 EPS for the current year.

Genuine Parts declared that its Board of Directors has initiated a stock repurchase plan on Monday, August 21st that permits the company to buyback 15,000,000 outstanding shares. This buyback authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, December 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 60.40%.

A number of research analysts have recently commented on GPC shares. Jefferies Group reiterated a “hold” rating and set a $95.00 price target on shares of Genuine Parts in a report on Sunday, September 10th. Royal Bank of Canada upped their price target on Genuine Parts from $85.00 to $98.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 26th. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Gabelli restated a “buy” rating on shares of Genuine Parts in a research report on Friday, October 20th. Finally, Moffett Nathanson began coverage on Genuine Parts in a research report on Monday, December 4th. They set a “sell” rating on the stock. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $96.00.

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Genuine Parts Profile

Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.

Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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